This Jelfa finds prescription for profits, prognosis for next year upbeat

The company's net profit amounted to zł.12.73 million, as compared to only zł.4.70 million in the previous year. Sales increased from zł.64.66 million in 2004 to zł.80.70 million now. However, according to a BDM PKO BP analyst Hanna Kędziora, this year Jelfa's results will not be very good. The company will most probably manage to meet the projections for this year, which envisage the net profit of zł.14.70 million and the revenues of zł.300 million. The firm might even go beyond this, but the key period is the last quarter of the year, when Jelfa has to pay the costs connected with selling its products, which are difficult to estimate now. Analysts believe that Jelfa's results will improve in 2006, but according to Puls Biznesu, this is when the Industry Development Agency, together with the Treasury and the PZU group are selling 47.5% of the company's shares. Analysts project that the possible investor will have to pay at least zł.70 per share. (Puls Biznesu, p. 9) A.F.